There was some bad news for the staff at Dublin’s TXFM this afternoon as the stations owners have revealed they have not applied to renew its broadcasting licence.
According to inside source said the stations decision to not apply to renew its licence was due to the fact that the station was failing to make a profit. In a statement released this afternoon, the Broadcasting Authority of Ireland (BAI) confirmed that it received no applications for the licence which was advertised on 21 December 2015. This means TXFM will come off air at the end of October at the latest.
The news comes as the station is about to celebrate its second birthday tomorrow. It is believed that the subsequent closure will see six full-time employees lose their positions just before Christmas. It is believed the alternative rock station’s shareholders, Evergreen Ventures, Gaiety Investments and Communicorp Group, are expected to discuss the situation later this week with the BAI before informing staff of the details of the wind-down.